Health Care Technology

Company Overview of Optum, Inc.

Company Overview

Optum, Inc., through its subsidiaries, provides information and technology-enabled health services. It offers health management solutions that address the physical, mental, and financial needs of individuals and organizations; technology, information, analytics, and consulting solutions to make business and health decisions; and solutions for the delivery, clinical management, and affordability of prescription medications and consumer health products, as well as retail network contracting, rebate contracting, and management and clinical programs, which include step therapy, formulary management, and disease/drug therapy management programs for customers. The company’s health management solut...

Optum, Inc., through its subsidiaries, provides information and technology-enabled health services. It offers health management solutions that address the physical, mental, and financial needs of individuals and organizations; technology, information, analytics, and consulting solutions to make business and health decisions; and solutions for the delivery, clinical management, and affordability of prescription medications and consumer health products, as well as retail network contracting, rebate contracting, and management and clinical programs, which include step therapy, formulary management, and disease/drug therapy management programs for customers. The company’s health management solutions include health information and services; behavioral health, clinical care management, and financial services; wellness, disease and care management, care advocacy and decision support, condition management, mental health and substance abuse management, and employee assistance programs; and consumer health information, private health portals, and consumer engagement services and health banking services for consumers and care providers. In addition, it offers Optum Care Suite, a set of applications that help physicians and other health professionals to access detailed health intelligence on patient, system and population health. The company serves health professionals and physician practices, hospitals and facilities, state and federal government agencies, health plans, FORTUNE 500 employers, life sciences companies, and consumers in the United States and internationally. It has a strategic alliance with Multimodal Technologies, Inc. The company is based in Eden Prairie, Minnesota. Optum Inc. operates as a subsidiary of United HealthCare Services, Inc.

Optum, Inc. Key Developments

Optum, Inc. reported earnings results for the third quarter and nine months ended September 30, 2014. For the period, the company reported revenues grew 21% or $2.1 billion year-over-year to $12 billion, and earnings from operations grew 27% or $184 million year-over-year to $865 million.
For the first nine months, Optum revenues have grown 26% and earnings from operations by 24%.
For 2014, the company expects Optum overall revenues to be at the upper end or perhaps above the target of $45 billion to $46 billion, with earnings from operations near the upper end of previous outlook of $3.1 billion to $3.2 billion.

Optum has launched Optum One, a health intelligence platform that brings knowledge drawn from hundreds of millions of patient encounters directly to the fingertips of health care providers. Optum One enables health care providers to analyze data extracted from their electronic medical record (EMR) systems and enriched by claims data and take action on those insights, using intuitive applications connected through a single platform. Advanced predictive models identify gaps in care, help users coordinate care, and compare the real-world efficacy and associated cost of possible treatments. Optum One comes at a key moment in health care when provider reimbursements are increasingly determined by the quality and value of the care they provide overall instead of the volume of individual services they perform. This shift is borne from nationwide efforts to align incentives to achieve the goals of enhanced patient satisfaction, improved population health and reduced health costs. Optum One supports care providers with a series of knowledge and action applications that meet a full range of provider needs, including population and risk analytics, patient engagement and care coordination. Optum One features: an integrated analytics platform that is purposefully built for the health care provider market, with the accurate and integrated data; a database that includes clinical information on nearly 40 million treated patients as well as 20 years of claims data; monthly, it processes 700 million clinical notes, 3.1 billion lab results and more than 1 billion procedures, diagnoses and prescriptions; the ability to deliver analytics insights at the point of care, especially valuable for those ‘morning huddles’ when the opportunity to improve health and lower cost is greatest; modular apps that are seamlessly integrated into one platform; effective, risk-driven, cross-continuum care management; and the ability to facilitate true patient-centric, longitudinal population management that supports value based payment. The Optum One platform and applications are designed to deliver knowledge and enable targeted patient intervention. While they work seamlessly together, they are modular so that health care providers can utilize the applications they need as they move from fee-for-service to fee-for-value.

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